The country's trade deficit gap narrowed by 3.89 percent in July 2012-May 2013 against the corresponding period last year, Pakistan Bureau of Statistics (PBS) data showed on Tuesday. According to provisional trade figures issued by PBS, the trade deficit declined to $18.68billion in July 2012-May 2013 against $19.44 billion last year after a 3.89 percent increase in exports and 0.19 percent increase in imports.
During the period under review, exports surged to $22,322 million in July 2012-May 2013 against $21,487million in the same period a year ago whereas imports increased to $41,011million in the current fiscal year from $40,933 million last year. Analysis of monthly figures showed that trade deficit increased by 22.03 percent in May 2013 over April 2013. Exports increased to $2,175 million in May 2013 from $2,130 million in April 2013, reflecting an increase of 2.11 percent while imports increased to $4,346 million in May 2013, up from $3,909 million in April 2013, reflecting an 11.18 percent increase.
Exports showed 0.83 percent increase in May 2013 over figures for May 2012 with total goods exported surged to $2,175 million against $2,157 million in the same month last year. However, imports increased to $4,346 million in May 2013 against $3,891 million for the same month a year ago, reflecting an increase of 11.69 percent. Thus the trade deficit in the May 2013 against the same period last year increased by 25.2 percent with deficit rising from $1,734 million in May 2012 to $2,171 million May this year.
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